This book is a nonfiction work which uses a case study about Regency Period nouveau riche Englishman William Jackson and his self-entitled nasty son, William Cameron Burke Jackson, to gain insight into the worlds of finance, credit, and crime.
The Regency (1811 to 1820) was a period of immense transitional change in Great Britain. It was recovering from the loss of the American colonies, it had largely finished the Napoleonic wars on the Continent, and the economy was rapidly turning away from mercantilism toward modern capitalism. It was a time of great moral change as well. King George III had long been a model of moral probity -- as a person, as a father, and as a leader. His son, the Prince of Wales (the future George IV), was not. He was a schemer, spent money (like a drunken sailor), had sex with hundreds of women (like a drunken sailor), and married a woman both beneath his station and of a religion which could not be accepted by the establishment (like a drunken sailor). His debts were so immense, Parliament needed to appropriate public funds to meet them -- and almost didn't. The concept of a bankrupt on the throne of England was almost too much to consider...
William Jackson, Sr., was a model man of his time. Immensely concerned with reputation and morality, he had gone to India as a young man. There he made his fortune with the East India Company. Indeed, even the massive East India Company -- which ruled India and much of Asia aas a personal kingdom -- was rapidly being nationalized and secular, government (instead of rapacious mercantile exploitation) imposed on England's Asian colonies. Returning to England, he set himself up as one of the "new gentry", with a townhouse in London, a manor house in the Midlands, and a summer home in the West Country.
Enter his son, William Cameron Burke Jackson, Jr. He was an only son, and coddled by his mother while his father was still in India making money. He grew up believing himself special, unique, entitled, and so unlike the common man.
Jackson's descent into immorality and profligate spending began in his middle teens. Nicola Phillips glosses over his early childhood somewhat (mostly due to a lack of information about it), and begins William Jr.'s story as he is 14 years old and being sent to "school" for the first time.
Phillips explores the changing world of education in England during the Regency, a time in which public boarding schools were quickly gaining the public's approval and notice as high-quality providers of education. Mr. Jackson, however, was faced with trying to provide his son with an education "appropriate" to his class as wealthy landed gentry. Other educational forms -- such as the home tutor, private boarding school, and the "new school" (essentially intense tutuoring in a small group of 15 or so, usually by a member of the clergy) -- were also options. Mr. Jackson also wanted to set William up in a career. Joining the East India Company and making another fortune seems out of the question, because Mr. Jackson had left the company under a cloud, because Mr. Jackson felt it wasn't appropriate for moral reasons, and because Mr. Jackson felt William's somewhat fragile health would not permit it.
William Jr., unfortunately, was by this time a complete snob. Sent to a private boarding school, his snobbish peers only reinforced the sense of entitlement and attitude he unfortunately already had mounds of.
William's school years are explored in depth by Phillips. Father and son exchanged a vast number of letters in which they discussed William's behavior and one another's reactions to it. Mr. Jackson's horror at his son's licentiousness (using prostitutes, excessive drinking, playing hookey from school, running up vast debts, playing the dandy, lying, and attending lewd entertainment) was compounded by intense anxiety. For William Jr. was more like the Prince Regent -- with his many mistresses, his immense and costly wardrobe, his love of bawdiness and sensuality, his indulgence in drink -- than a model of moral probity.
By the time he is 17, William Jr. has slept with several hundred hookers, gotten venereal disease more than once, run away from school and disappeared in London for a week, and managed to alienate many of his friends (most of whom straightened up and flew right later in life). His debts were more than £800 -- about double his father's annual income! Phillips uses William's easy ability to secure long-term credit to examine the way the marketplace functioned in Regency England, and how debt collection and the law worked to both protect creditors and exploit them.
Although Mr. Jackson once wanted a career in the law for his son, William Jr. declared that he wanted life as a dashing, well-dressed soldier. A commission in the British Army was purchased, and William screwed that up, too.
If all of this sounds a bit The Magnificent Ambersons, it is. And no, the story does not end well.
Using the William Cameron Burke Jackson story, Phillips closely describes and analyzes the way bankruptcy, debtor's prison, the legal system, and the penal system, criminal "transportation" to the colonies, and colonial government worked in the early 1800s.
Phillips' writing style is clean and engaging. Her ability to describe even the most intricte of legal questions or the most arcane of financial questions is quite strong, and she rarely digresses into irrelevant material.
There are weak parts in the book, primarily toward the end. This is more due to the lack of facts, letters, and supporting documentation than any failure on Phillips' part.
I highly recommend this book as a great peek into the way fashion, credit, law, debt, and the penal system worked in England from 1800 to 1830.